Learning from Renovation Mistakes and Tenant Screening with Rent Ready

The chapter reflects on a renovation project gone wrong, emphasizing the need for a solid business plan and learning from mistakes. It also introduces rent ready's new income verification feature for thorough tenant screening and discusses the advantages of using their tools for property management.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

Want to begin flipping houses in 2024? With this popular investing strategy, you could build a lucrative and flexible real estate business. All any rookie needs to get started is a few skills and a little know-how, and there’s no better person to get you up to speed than today’s special guest!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by James Dainard, investor, master house flipper, and co-host of the On the Market podcast. James has flipped over 3,000 homes to date, and in this episode, he’s going to show you how to flip your first house, step by step, from start to finish. From creating an accurate budget (and sticking to it!) to choosing home renovation projects that deliver the highest return on investment (ROI), this masterclass has everything you need to make your first flip a successful one.

You’ll learn how to find the best contractors for your rehab, strategies to keep your project on track, and why you should involve your real estate agent throughout the entire project—not just when it comes time to list your property for sale. James even shares his own flipping horror story that cost him hundreds of thousands of dollars and the biggest lessons learned from that experience!

In This Episode We Cover:

How to ensure that your BRRRR property will cash flow before AND after refinancing

Creative financing solutions to use when hard money becomes due

What you NEED to know before getting into commercial real estate investing

How to fully furnish your short-term rentals on a tight budget

Addressing rent increases and maintenance issues with difficult tenants

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram